Hidden deep in the latest budget, the one that plunges Alberta over $71B into debt by 2020, is the fact that the government is borrowing $2B to cover the growing losses in the Balancing Pool.

The Balancing Pool is the middle man, a government agency acting as the contract holder between the power generators and the companies that sell power to Albertans. There is a clause in those contracts stating that if the government does something to make the power contracts unprofitable, or more unprofitable, the Balancing Pool is on the hook for the whole mess.

The NDP’s carbon tax did just that. When the NDP carbon-taxed coal fired electricity generation, a bunch of those contracts turned to junk, and the Balancing Pool started bleeding cash, up to $70M per month.

The NDP say this cash injection is a loan and the Balancing Pool is supposed to pay all of it back. But how can they? The Balancing Pool is still bleeding millions of dollars every month.

Actually, it’s even worse than that - the Balancing Pool is or nearly is, insolvent right now. And I have the internal emails to prove it.

The NDP just loaned $2B borrowed dollars, money Alberta doesn't have and can't afford, to cover the losses the NDP caused through their own actions at a government agency that is almost or totally insolvent. Oh, and that government agency is of course, still losing money.

What could possibly go wrong? What are the prospects do you think, of Albertans ever seeing this money paid back?

Comments

That is one helluva hang over Alberta is waking up to. This is why they used to shut down bars and liqueur stores on election days. Morons. The one the country is waking up to is even worse. Double morons. You know, why don’t Ontarians and Albertans and, well, pretty much the entire country just get on with it, nationalize ALL business larger than mom and pop stores and party like it’s 1988 Poland. Trust me millennials, all that Marxism and Feminism was RADICAL and BITCHIN! Just google it. It seems that’s what 2/3 of the country desperately want. Well the 2/3 that don’t want to recreate the tropical paradise of Somalia, anyway.

Peter Netterville commented
2017-04-01 11:38:51 -0400

I can’t wait until Albertans kick Notley’s ass to the curb.

If Rachel Notley had even an ounce of integrity she would request the Lieutenant Governor Lois Mitchell call an election immediately.

But fat chance Notley has that sort of maturity.

Elton Braun commented
2017-04-01 01:36:07 -0400

Ontario here we come.

Greg Lund commented
2017-03-31 22:02:49 -0400

We will and are going into debt slavery under these policies. Lowering of property values, increased taxes, tariffs, etc. All the while giving subsidies to unprofitable corps, foreign aid with no accountability for the monies. Spending like there is no end. Who pays ? We do, and we will for many year’s. Do you know or calculated the interest on BILLIONS if the rate changes even 1%.. I remember the 80’s. the bank literally threw money at you at 18%. Just saying

Lloyd Nolan commented
2017-03-31 21:45:00 -0400

You just know , if there’s no way to back this mess up and make it the way it used to be , the Albertan customers are going to have huge electric bills that make their houses worth unresaleable

Drew Wakariuk commented
2017-03-31 21:14:09 -0400

Why don’t these f*ckin socialists move to Venezuela and live under their ideology? Oh yeah , they are filthy hypocrites who want to live like crony capitalists and kings while others go without.

William Howie commented
2017-03-31 19:48:59 -0400

That’s what happens when you have graduates of the Hugo Chavez College of Finance running your province.
I pity ye Albertans.

gerry fladager commented
2017-03-31 19:09:04 -0400

The union goons (teachers-nurses-gov. so called workers )will always vote N.D.P.because they have been programed that way.

C. White commented
2017-03-31 19:03:08 -0400

Actually, it is not going to cost Albertans $2B. It is going to cost Albertans $2B plus interest, because the $2B is borrowed. With the continual degradation of Alberta’s credit rating, that interest amount is just going to keep increasing with the increased rates due to that degradation. What a fiasco.

With respect to the invisible energy minister and invisible MLA for Central Peace-Dunvegan-Notley Riding, I do have to admit that even Baby Doc moved out incompetent ministers from his cabinet. Why doesn’t Notley? Except the true ministers are the mercenaries brought in from out of province.

Peter Netterville commented
2017-03-31 19:03:02 -0400

Yup, it’s obvious Alberta is in good hands with the NDP!

I guess the NDP apologists will claim this is because of the price of oil as they do with every other screw up the NDP do. That is assuming the main stream media even reports this at all.

Keith Barnes commented
2017-03-31 19:00:11 -0400

Oh the joys of Socialism, in plain sight for all to see. Then they turn to extortion, using a falsehood called Carbon Tax, to try and cover their Butt’s.

When will Socialists mature enough to vote Right.

MacVikingg Cumming commented
2017-03-31 18:34:23 -0400

The NDP are such a brain dead bunch of sons of bitches that they could not run a lemonade stand.